British Soccer In Foreign Hands

chelsea's pick & mix

Yet Abramovich's investment in the sport hasn't quelled the fears of British fans. The source of his money has been questioned by many; his commitment to Chelsea has been the subject of much debate and one influential Chelsea supporter, the former British sports minister Tony Banks, has even queried whether the Chelsea owner shouldn't have been subjected to a fit and proper test before being allowed to take over the century-old club.

As Chelsea grew ever stronger throughout the 2004 season, criticism off the field has intensified. The club has been accused of distorting the player wages and transfer market, and of breaking the rules to sound out players from rivals. Chelsea's charismatic manager, Jose Mourinho, has been fined for bringing the game into disrepute after he criticized the referee during a match against Barcelona.

Yet the lion's share of the criticism has been reserved for the man who signs the checks. Abramovich's critics say that in pumping so much money into Chelsea, he has created an organizational "pick and mix," where the club can hand-pick world-class players and lure them in with large salaries. This defies what is perceived as tradition, wherein players would sign with a club on the basis of a geographical or emotional bond with it, rather than for strictly financial incentives.

malcolm glazer and man u

Malcolm Glazer's acquisition of Manchester United has also been subjected to considerable opposition from a highly articulate group of the team's fans, although for different reasons. The general sentiment seems to be that the American businessman's ownership might adversely affect the team and the fans' relationship to it.

Some of the most ardent Man U supporters have even gone about forming a new club, FC United, which they have adopted as their own team in preference to a Glazer-owned one. FC United plays at a ground in the Manchester area and has already proven itself capable of attracting crowds, having drawn out 2,000 supporters for its debut match in August of 2005.

Unlike Abramovich, Glazer does not intend to shower his new investment with millions of pounds. Rather he intends that United be self-financing, and is funding his takeover with hundreds of millions of debt-financed capital which needs to be repaid on a yearly basis.

Financial analysts have estimated that Glazer has borrowed up to $900 million to finance his deal. Some of this was loaned at high rates of interest, putting the organization under pressure to make large debt repayments before they can even start paying out the other huge sums involved in running a football club. And with Abramovich now dominating the league with his personal fortune, Manchester fans feel that their club will not be able to compete financially.

foreign football takeovers

Abramovich and Glazer's acquisitions may be making the current headlines, but the trend of businessmen (both domestic and foreign) taking over of England's soccer clubs has been gaining ground over the past 20 years or so. In the '80s, the Blackburn Rovers were bank-rolled by the late Jack Walker, a British steel magnate. The first takeover of a major club by a non-UK national was that of Fulham by Mohammed Al Fayed, the Egyptian owner of the Harrods department store.

Yet neither of these two takeovers threatened to upset the game's equilibrium as much as the recent moves on United and Chelsea do, since these latter two clubs are perceived as forming the core of the English game. In light of this, their transfer into foreign ownership has been monitored in much greater detail.

Some supporters complain about football becoming too plutocratic and money obsessed. For the traditional, blue-collar English football supporter, players who earn up to $140,000 a week have become too remote from their own lives. Furthermore, these fans are being replaced by those who can afford $100 tickets for themselves and their families. This is a route that some say will end in ruin, but as long as English football continues to be played in stadiums that are packed to the rafters, it's too soon to say that the bubble is bursting.

Question: Which other football team (of the American variety) does Manchester United owner Malcolm Glazer hold controlling stakes in?